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Chris Burniske, trader, crypto investor: "Why is crypto falling so much in 2018? Because in 2017 the market was up more than 30 times, but adoption (beyond investing & trading) wasn’t concurrently up 30 times. One can try to explain each fluctuation, but these explanations are frequently stories we tell ourselves, stretching to add reason to traders driving a bear market. The macro story I tell myself is ‘financial reality’ divorced from utility fundamentals in 2017, and so we have to (expectedly) course correct."
After started bearish on Monday, Bitcoin increased to its mid-August levels closing at $6,468 on Thursday. It is connected with the news about Morgan Stanley. The famous bank announced that it is working on a solution to protect the Bitcoin investors. Moreover, other big financial institutes, such as Citigroup and BlackRock, are planning to launch crypto-related products. The market reacted positively, which resulted in pushing the price of BTC up. Up to now, the digital currency has been trying to reach the 200-period MA on H4 at $6,605. If it breaks the resistance level, the future growth could be expected. The next resistance level is at $7,125. Otherwise, BTC/USD will go back to the support at $6,180.
Bitcoin $6,437.7 (-0.43%)
DASH $185.54 (-2.62%)
Ethereum $205.79 (+6.02%)
Litecoin: $53,300 (-0.28%)
On Wednesday, the evergreen buck declined because the Japanese yen kept to a two-month minimum due to the fact that market participants had the latest trade reports digested…
On Tuesday, the evergreen buck added versus its counterparts because market participants weighed the latest worsening in the tit-for-tat tariff conflict between China and America, while a weaker common currency also raised market sentiment…
On Monday, the evergreen buck declined versus its counterparts on worries of an escalation in the US-China trade conflict, while a stronger UK currency and euro also put pressure on market sentiment…
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…
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